Tourmaline Oil Corp (TOU) Announces $0.10 Quarterly Dividend

Tourmaline Oil Corp (TSE:TOU) announced a quarterly dividend on Thursday, December 13th, TickerTech reports. Shareholders of record on Friday, December 28th will be given a dividend of 0.10 per share on Friday, December 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, December 13th.

Shares of Tourmaline Oil stock traded up C$0.02 on Friday, reaching C$17.78. The company’s stock had a trading volume of 832,100 shares, compared to its average volume of 854,063. Tourmaline Oil has a 52 week low of C$17.34 and a 52 week high of C$26.19. The company has a debt-to-equity ratio of 18.20, a current ratio of 0.36 and a quick ratio of 0.32.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, November 7th. The company reported C$0.20 EPS for the quarter. The business had revenue of C$407.18 million during the quarter. Analysts expect that Tourmaline Oil will post 1.46000002299213 earnings per share for the current fiscal year.

In related news, insider William Scott Kirker bought 2,000 shares of the stock in a transaction that occurred on Thursday, December 6th. The shares were bought at an average cost of C$17.68 per share, for a total transaction of C$35,360.00. Also, insider Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were bought at an average price of C$21.00 per share, for a total transaction of C$52,500.00. Over the last 90 days, insiders bought 60,000 shares of company stock worth $1,153,950.

TOU has been the topic of a number of research reports. Raymond James dropped their price target on Tourmaline Oil from C$35.00 to C$29.50 in a research note on Friday, October 5th. BMO Capital Markets dropped their price target on Tourmaline Oil from C$28.00 to C$26.00 in a research note on Tuesday, October 9th. TD Securities restated a “buy” rating and issued a C$27.00 price target on shares of Tourmaline Oil in a research note on Thursday, November 8th. Finally, CIBC dropped their price target on Tourmaline Oil from C$30.00 to C$27.50 in a research note on Thursday, November 22nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Tourmaline Oil presently has a consensus rating of “Buy” and an average price target of C$29.00.

WARNING: This story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/12/08/tourmaline-oil-corp-tou-announces-0-10-quarterly-dividend-2.html.

About Tourmaline Oil

Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Peace River High, Alberta Deep Basin, and NEBC Montney areas.

Recommended Story: Futures Contract

Receive News & Ratings for Tourmaline Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tourmaline Oil and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply